The group’s infrastructure investment operation is changing its name to Invesis, reflecting a change in ownership and the broadening of its interests.
Many public sector bodies risk underestimating the time, resources and complexity involved in managing the end of PFI contracts.
Torc Housing Partnership has been selected as preferred tenderer for the second phase of the Irish government's social housing PPP programme, covering design through to ongoing service delivery.
The team has achieved financial close on the 33-year public-private partnership contract with Library and Archives Canada to design, build, finance, maintain and operate a new preservation facility.
ENGIE has secured a long-term contract to provide total facilities management at Portsmouth Hospitals NHS Trust's Queen Alexandra Hospital in Cosham.
The Private Finance Initiative has been a controversial policy virtually from the day it was introduced in the early '90s. Nowhere has this been more so than in the UK health sector and one group has been looking at alternative strategies.
The facilities services group has secured a landmark extension to its Private Finance Initiative contract at the Calderdale Royal Hospital.
Eight months after the collapse of the construction and services group, a way forward has finally been agreed for the stalled new-build Midland Metropolitan Hospital in Smethwick.
Tees, Esk and Wear Valleys NHS Foundation Trust has moved 23 former Carillion employees into a recently created wholly-owned services business.
Tony Keane, president and CEO for the past nine years of the International Facility Management Association, has left the organisation which, its board says, continues to pursue "a bold strategic agenda".
Preston-based Eric Wright Facilities Management has been awarded an 18-year contract to service 16 PFI fire stations across the North West.
The Irish government has signed a key new public-private partnership contract with the Eriugena consortium, which will see two new buildings delivered for the Dublin Institute of Technology.
The contractor has struck a deal with Highland Council that it says will save millions of pounds over the life of a long-term contract, with no compromise on TFM service quality.
The support services group has been named preferred bidder to operate the New Grafton Correctional Centre in New South Wales, Australia.
For the past 13 years Amey has been contracted to manage maintenance work across three lines, the Jubilee, Northern and Piccadilly. At the end of next year, that will come to an end.
Robertson FM has been named preferred bidder for a 25-year contract to supply facilities management services at the Aberdeen South of the City High School.
The joint venture team is now ready to move ahead on the Irish Schools Bundle 5 Public Private Partnership project, which has an estimated value to Carillion of £190m.
BAM Deutschland has won a long-term PPP contract to deliver a new Fire and Rescue Services Centre in Leverkusen, north of Cologne.
The FM services provider has acquired four contracts that support PFI schools and specialist healthcare facilities at five locations in Scotland and northern England.
With building work completed on the first of three multi-million pound PFI retirement living sites in Stoke-on-Trent, consortium partner Eric Wright will launch its 25-year FM services contract.
Ireland's National Development Finance Agency has confirmed the contract award and the start of construction to deliver courthouse facilities in seven locations around the country.
The Hospital Company (Sandwell) Limited, a Carillion joint venture, has achieved financial close on the Midland Metropolitan Hospital Public Private Partnership project in Birmingham.
A rising star at Vinci Facilities has helped the service provider win the RICS Young Surveyor of the Year Award in the FM category for a second consecutive year.
North Cumbria University Hospitals NHS Trust has taken the unusual step of issuing a lengthy and forthright statement setting out its strategy for rectifying serious problems with fire safety at Cumberland Infirmary, one of the UK's first PFI schemes.
Ireland is to benefit from 14 new primary care centres following the selection of a preferred bidder for the country's first healthcare PPP project.
A Bouygues Energies & Services team has reached financial close on the Royal Hospital for Sick Children and Department of Clinical Neurosciences in Edinburgh.
Interserve and its joint venture partner Kajima have reached financial close on a contract to design, build and maintain seven secondary schools in southeast England.
Skanska has signed a contract to deliver the New Papworth Hospital in Cambridge, a 40,000 sqm development providing 300 beds.
Six teams are in the running for a major law courts development project in the Australian capital of Canberra, the first public-private partnership deal in the area.
The Stoke Extra Care Housing PFI project is set to get underway as contracts were signed between Sapphire Extra Care Limited and Stoke-on-Trent City Council.
Northumbria Healthcare NHS Foundation Trust is set to become the first in the NHS to buy itself out of a long-term PFI deal.
Balfour Beatty has sold stakes in two PPP projects, making a tidy profit on the deals.
Balfour Beatty has reached financial close on the £196m BC Children's & BC Women's Redevelopment Project in British Columbia.
Kier Group is now the 100% owner of Justice Support Services (Norfolk and Suffolk) Holdings Limited, having bought out its co-owner.
The Education Funding Agency has named an Interserve Kajima joint venture as selected bidder for the first PF2 batch of the government's Priority School Building Programme.
The investment group HICL Infrastructure Company has bought stakes in PPP projects from Carillion and Vinci.
Plans have been announced to deliver £1.5bn in savings across the 495 operational Private Finance Initiative schemes in England.
Stoke-on-Trent Council has selected Sapphire, an Eric Wright-led consortium, to build, finance and operate 390 extra-care apartments in the biggest scheme of its kind for the city.
Financial close has been achieved on the £335m Royal Liverpool University Hospital PPP project.
Blue 3, the Kier-led consortium, has reached financial close on a £70m deal to design, build and maintain nine new community fire stations in southeast and east London on behalf of London Fire Brigade.
The infrastructure group has sold its 50% interest in the Salford Hospital PFI for £22m.
The government has launched a new 'best practice' guide for the private and public sector to make savings in existing contracts for schools, hospitals and other public infrastructure projects.
Cofely has kicked off a 25-year deal to deliver a total facilities management solution for the new Liverpool Central Library and Archive.
Carillion has been selected by the Royal Liverpool and Broadgreen University Hospitals Trust to deliver the new Royal Liverpool University Hospital Public Private Partnership project.
Balfour Beatty has boosted its financial position with the sale of two PFI investments.
Investment group HICL Infrastructure Company has acquired a 50% equity stake in the Northwood MoD HQ PFI Project following a £30.6 million payment to Carillion.
Details of the revised PFI programme confirmed in yesterday's Autumn Statement were, not surprisingly, right in line with information circulating in the marketplace for days beforehand.
Details of the long-awaited 'son of PFI' were circulating widely on Tuesday ahead of today's Autumn Statement from Chancellor George Osborne.
Kier Group has completed the sale of its interests in two Private Finance Initiative projects for a combined £5.4m.
The support services and construction group has sold its interests in two PFI subsidiaries to the Dalmore Capital Fund for £89.5m.
The Blue Light Partnership has achieved financial close on a multi-million pound PFI contract with Avon and Somerset Police Authority.
Kier will provide hard and soft facilities management, as well as community support services, with a total value of more than £17m as a part of a PFI deal with Stoke-on-Trent and Staffordshire Fire Authority.
At last week's annual general meeting, the Institute confirmed the induction of two new Honorary Fellows and three new Fellows.
A new white paper from Service Works Group offers guidance on implementing payment mechanisms in Public Private Partnership and Private Finance Initiative projects.
The support services and construction group is to sell a part of its holding in the University College London Hospitals PFI project, generating £35m in cash.
Blue3, the Kier-led consortium, has been named preferred bidder to design, rebuild and maintain 11 fire stations on behalf of the Staffordshire Fire and Rescue Service.
An Interserve-led consortium has reached financial close with West Yorkshire Police Authority and West Yorkshire Police on a £150m PFI contract.
The support services and construction group has been confirmed as front-runner to provide facilities management services at the new Alder Hey children's hospital to be built in Liverpool.
Essex County Council has reached financial close with Skanska and partners for the financing, design, construction and operation of the new Woodlands School.
An Interserve-led consortium has been appointed preferred bidder by West Yorkshire Police Authority and West Yorkshire Police on a £150m PFI deal.
The Blue3 consortium has been appointed to design, build, finance and maintain nine stations for the London Fire Brigade.
PFI has delivered a wide range of projects, but a new report from the National Audit Office concludes that the public sector is paying more than it should for equity investment in many of them.
The quality of information shared, combined with a commitment to ensuring the transparency and auditability of contracts, is fundamental to the success of PFI partnership, according to a new white paper.
Avon and Somerset Police Authority has received Treasury approval to appoint the Blue Light Partnership on a £129m PFI contract.
The Treasury Select Committee has reacted to the government's proposed changes to the Private Finance Initiative, highlighting in particular concerns about project funding.
The construction to FM group is the latest company to reap some of the cash benefit from its investment in public/private development projects.
An Interserve-led consortium is expected to be named preferred bidder very soon for the West Yorkshire Police PFI project.
Kier Group has completed the sale of its 50% interests in two Private Finance Initiative projects.
Vinci Facilities has landed a 20-year contract to provide hard FM services to the Queen Elizabeth Hospital PFI in Woolwich, London.
The construction to services business has sold its equity holdings in three operational UK healthcare and education Public Private Partnership schemes.
Construction to services group Bilfinger Berger is planning to launch a publicly listed fund in which it will place up to 19 public-private partnership projects from its current portfolio of 30.
PFI looks like a better deal for the private sector than for the taxpayer, according to the latest report from the Commons Public Accounts Committee.
The employers' organisation argues that whilst the government needs to act on lessons learned from PFI experience, it should also recognise that private finance 'must' play a role in delivering new roads, hospitals and schools.
Not for the first time in its history, the Private Finance Initiative has come in for strong criticism, this time by the Treasury Select Committee in a report that declares taxpayers are not getting good value for money.
Hospital Infrastructure Partners, the Carillion-led consortium, has achieved financial close on the contract to deliver the new £1.3bn Oakville Hospital scheme.
Hard on the heels of the news that Papworth Hospital has reached its final shortlist comes confirmation of the same landmark at the new Royal Liverpool University Hospital.
The government intends to deliver at least £1.5bn in savings across the 495 operational Private Finance Initiative projects in England, recycling the money back into frontline services by the contracting authorities.
The shortlist of competitors vying to provide design, build, finance and maintain services for the New Papworth Hospital has been narrowed down to the last two.
HICL, the listed infrastructure investment company, has extended its stakes in three projects and bought into a fourth.
FMs spend a lot of time arguing the benefits of breaking down the silos that prevent a coherent approach to delivering facilities services; but, one layer up, corporate organisations are plagued with the same problem.
A Hochtief-led consortium has achieved financial close with Halton Borough Council to design, build, finance and operate two secondary schools under the Building Schools for the Future programme.
As two parliamentary committees begin separate reviews of the past, present and future of PFI, the Treasury is being accused of having inadequate information about 'excessive' PFI profits.
A joint venture led by contractor Laing O'Rourke has reached financial close on one of the largest healthcare projects in the world today.
A Carillion joint venture, Hospital Infrastructure Partners, has been named preferred bidder to finance, design, build and maintain the new replacement Oakville Hospital in Ontario.
The Labour government's Building Schools for the Future programme may be dead, but there appears to be plenty of life in the concept of using private finance to deliver school facilities.
HICL Infrastructure Company Limited has paid £4.6m for a 75% interest in the Brentwood Community Hospital PFI project from Kajima Partnerships.
The construction to facilities group has sold its 50% stakes in two Private Finance Initiative projects for a total of £9.2m.
The Building Schools for the Future programme may be dead, but there are still flickers of life in the contracts landscape.
Inspiredspaces, the Carillion schools delivery group, has reached financial close with Nottingham City Council on a £12.1m PPP project.
The infrastructure group has reached financial close for the North West Fire and Rescue Services PPP scheme.
The Treasury has launched a pilot project to identify the scope for achieving savings in operational Private Finance Initiative contracts.
Gloucestershire County Council has been given the all-clear for a PFI-funded project that will see four new community fire stations built.
Vinci Facilities has sealed the contract for the delivery of FM services to the Garth Olwg School Campus under the Rhondda Cynon Taff PFI scheme.
A Costain/Babcock consortium has reached financial close on the fourth phase of Lewisham Council's multi-million pound Building Schools for the Future programme.
In what might be a new year-end tradition, the services to construction group has sold a further slice of its equity investment in the huge Allenby Connaught MoD accommodation project.
One of the few, and quite probably one of the last, big healthcare PFI schemes in the country has been stalled by legal action.
Lancashire Care NHS Foundation Trust has teamed up with private sector development specialist Ryhurst to form an independent company that will provide and operate new facilities.
Three consortia have been shortlisted to work with Papworth, the UK's largest specialist cardiothoracic hospital, as plans are developed to relocate onto the Cambridge Biomedical Campus.
The Barts and London NHS Trust, in the midst of a massive PFI redevelopment, is looking for specialists to advise on its FM regime.
Ecovert FM has kicked off its 32-year contract delivering mechanical, electrical and building fabric maintenance services to the new Broomfield Hospital in Essex.
The NHS in England faces a total bill of £65bn for new hospitals built under the Private Finance Initiative, figures obtained by the BBC indicate.
The public sector specialist has been selected as preferred bidder by North Lanarkshire Council for the provision of housing and property maintenance services.
A fleet of robot transporters is under trial as Serco kicks off its FM contract at the new Forth Valley Royal Hospital, the largest NHS construction project ever built in Scotland and one of the most modern and well-equipped hospitals in Europe.
The National Audit Office has praised last year’s Treasury intervention in PFI project financing but warned that it may not represent good value for money in the long-term.
Ecovert FM has begun service delivery to the newly built and refurbished North Middlesex University Hospital.
With the contract now signed, the redevelopment of Liverpool Central Library is finally set to get underway in one of the largest such projects in the UK.
One of the few big healthcare PFI deals still up for grabs has moved forward another step, with the narrowing of the shortlist to three.
A Serco Group consortium has signed a contract with the Ministry of Justice to provide and operate a new prison at Belmarsh West, London.
Carillion has sold its investment in the Queen Alexandra Hospital PPP, in Portsmouth, to HSBC Infrastructure Company.
Having recently sounded a warning about the future management of healthcare PFI contracts, the National Audit Office is back with concerns about long-term deals on housing schemes.
A joint venture, Carillion Secure Solutions, has been selected to design, build, finance and maintain the new Forensic Services and Coroner's Complex in Canada’s largest city.
The National Audit Office has declared that most PFI hospital contracts are well-managed and achieving the value for money expected when they were signed. But it warns there are risks over the long-term.
The Scottish government’s alternative approach to PFI/PPP programmes has seen its first preferred bidder named, for a project that will encompass a range of public facilities.
The Construction Products Association has called for urgent clarification of where spending cuts will hit following last week’s announcement of government plans for billions of pounds worth of savings.
The support services group has signed an agreement with Surrey County Council to renew a PPP contract for the provision of support services to over 400 schools.
Ecovert's Canadian business, ETDE FM, has reached financial close on the Green Timbers Accommodation Partners PPP which will provide a new divisional headquarters for the Royal Canadian Mounted Police.
A new study concludes that PFI hospitals are cleaner and offer better patient environments than conventionally procured hospitals.
BAM PPP has emerged as the winner in the two-way race to secure the London Borough of Camden's Building Schools for the Future contract.
A symbol of the heady early days of Public Private Partnership deals, one of the biggest is set to come to an end as Transport for London buys out the private sector shareholders.
The time was right to exchange its investments for cash, the infrastructure group says.
Hochtief PPP Solutions has been commissioned to design, finance, build and maintain ten schools in Canada‘s Alberta province.
Blue 3, a Kier-led consortium, has been named preferred bidder to design, build and maintain four new community fire stations and a life skills centre in Gloucestershire.
The two contenders to deliver the country's first children's health park have been named.
It may not be quite the good old days when this was a major market for construction companies and FM providers alike, but there is some life left in it still.
Criticism of the HM Revenue and Customs property outsourcing deal, first put in place in 2001, is almost as regular as those tax reminders that seem to turn up rather too often.
North West Fire and Rescue Services has named the infrastructure group as its preferred bidder for a 16-site PPP deal.
John Laing Integrated Services has kicked off a 30-year FM deal following the completion of phase one of Roseberry Park, the redevelopment of the existing St Luke's Hospital site in Middlesbrough.
Kirklees Council has named a Regenter consortium as preferred bidder for a 30-site PFI housing contract.
New research predicts that PFI projects reaching financial close will peak this year, then fall off rapidly as we move towards the middle of the decade.
Financial close has been achieved on the Southmead Hospital PPP project, where a Carillion-led team will handle both construction and FM.
Justice Support Services, a Kier and Reliance Secure Task Management consortium, has reached financial close on a contract to deliver six new police investigation centres in Norfolk and Suffolk.
Stockton Council has named the three contenders for its 12-school design, build and maintain contract.
Essex County Council has named Skanska as preferred bidder on the first phase of its massive Building Schools for the Future project.
The Worcester Library and History Centre PFI project, where SGP is the facilities management partner, has reached financial close.
The facilities and energy management provider has signed a long-term contract to provide a range of services to 10 fire stations in Staffordshire.
G4S Integrated Services has kicked off its FM responsibilities at the Criminal Courts of Justice, Dublin, three months ahead of schedule.
The construction to services group has landed the contract to design, build, finance and maintain the next phase of the Centre for Addiction and Mental Health in Toronto.
The contracting group has sold its stakes in the Waltham Forest Schools and Tendring Schools projects to PFI investment specialist Innisfree.
With the implementation of the Carbon Reduction Commitment looming on the horizon, a new issue has emerged: who is responsible for energy performance in a PFI building?
North Bristol NHS Trust has confirmed its preferred bidder for the £450m redevelopment of Southmead Hospital.
The construction to services group has sold part of its equity investment in two major Public Private Partnership projects, Allenby Connaught and New Accommodation, Cheltenham.
The services, maintenance and building group is to sign over all future interest and dividend income on 13 PFI investments to the Interserve Pension Scheme.
The Private Finance Initiative, launched under a Conservative government and wholeheartedly embraced by Labour, would be replaced with another funding model if the Tories return to power next year.
Construction, engineering and management group Shepherd has teamed up with PFI investment group Amber Infrastructure to win one of the biggest library redevelopment projects in the UK.
The Ministry of Justice has shortlisted seven consortia for a PFI framework that will ultimately see five new prisons delivered.
Norfolk County Council has shortlisted four contenders for a new PFI waste treatment contract, drawing some familiar names into the running.
A research study published by Edinburgh University has concluded that PFI hospitals are costing more than they need to and at the same time their support service contracts are delivering poor value for money.
Western Isles Council is seeking expressions of interest from prospective construction and FM contractors for its planned schools redevelopment project.
Investment group Equitix is set to move ahead with the first phase of Derbyshire County Council's Building Schools for the Future programme.
The early landmark PFI deal, Norfolk and Norwich University Hospital Ð no stranger to controversy Ð is in the news again as an economist argues it is too expensive and the government ought to end its long-term contract by buying the facility.
Students in English secondary schools that have been modernised via PFI achieve improved results faster than state sector schools that have been rebuilt traditionally. And the factor making the difference could be facilities management.
Client-side management skills are inadequate and supply partners are charging too much for changes, according to a review of operational PFI projects by the Public Accounts Committee.
Under new procurement reforms announced by the government bidding costs for Building Schools for the Future projects could be cut by up to 30%.
University College London has signed a contract with 4ps, the local government procurement support body, to deliver the first formal training course specifically designed for directors of PFI and PPP projects.
From this year onwards the government will use International Financial Reporting Standards (IFRS) and there has been much debate about what this means for the future of PFI.
The Building Schools for the Future programme, which aims to update and modernise every secondary school in England, is woefully inefficient according to a leading schools organisation.
The latest report form the National Audit Office, the government's spending watchdog, concludes that the cost of making changes under operational PFIs varies considerably and often doesn't add up to value for money.
Scotland's Information Commissioner has ruled that NHS Lothian cannot treat its PFI contract for the operation of Edinburgh Royal Infirmary as confidential.
The annual cost of PFI schemes to the NHS in England is set to increase five fold from ¬£470m to ¬£2.3bn over the next eight years, according to a report from the University of Edinburgh.
A new £300m PFI hospital will use robots to transport goods and equipment between wards.
The CBI has called on Gordon Brown to resist calls to abandon the Private Finance Initiative and other private sector involvement in public services. Instead, he should champion its success, the employers' group says.
The Edinburgh Royal Infirmary PFI scheme has been refinanced following detailed negotiations between service providers Consort and NHS Lothian.
Organisations are failing to train leaders to ensure the success of public private partnerships according to a new study.
More training is needed, as well as more scrutiny, to ensure the public sector doesn't lose out in PFI projects, especially when they are refinanced.
Over three-quarters of PFI contracts are making money and delivering profits, according to the latest KPMG/Business Services Association survey. Almost 60% of those questioned describe contract performance as 'very good', up 10% over last year.
Published today, the 2007 BSA/KPMG survey of operational PFI projects confirms the value of the inclusion of soft services within the PFI contract scope.
PPPs - public private partnerships - continue to be used extensively in the UK and increasingly elsewhere to secure new public sector assets. But a global survey finds problems with unproven systems and late specification changes.
Bexleyheath School has been landed the Best PFI accolade in first ever Education Business Awards.
Hard facilities services are a part of every PFI deal: if the contractor doesn't maintain the asset, how much benefit is the contract really delivering? But the benefits may not be so clear when it comes to soft services.
Mill Group's Investors in the Community programme has come top in the ‚Äòmost innovative funder' category at the Public Private Finance Awards.
Professional services firm Deloitte has released a report questioning the future of PFI. The report claims that current PFI structures are unlikely to address the UK's future infrastructure requirements.
Balfour Beatty has spent £31.6m to increase its share in Consort Healthcare's Edinburgh Royal Infirmary PFI concession, taking its holding from 42.5% to 73.9%.
4Ps, the local government public private partnership project delivery specialist, has published the programme for its forthcoming conference, to be held in London January 31st.
The Royal Institute of British Architects has launched a consultation process on PFI best practice as part of an ongoing industry campaign to introduce ‚Äòsmarter PFI'.
The Business Services Association, the policy forum for major providers of outsourced services, has hit back at claims in a union report that PFI projects represent poor value for money for the taxpayer.
A survey carried out last month by the Major Contractors Group shows that PFI bid delays and costs are both significantly less than they were when similar research was carried out two years ago.
Plans for a 25-year PFI contract could soon be shelved, after council officers advised Gloucestershire County Council to pull out of a waste management deal recently.
Metronet Rail, a key player in the London Underground PPP, is planning to cut up to 300 jobs.
Last year's annual report concluded that it was too early to judge the level of success of the Tube PPP. This year judgements have been made - and it is not entirely comfortable reading for the contractors Metronet and Tube Lines.
The National Audit Office study of Norfolk and Norwich University Hospital NHS Trust, one of the UK's first PFI hospitals, has found that the private sector partner made a gain of £115m by refinancing the deal.
John Laing has launched a rights issue calculated to raise a net £95.3m which will be used in an expanded programme of bidding for and investing in large projects.
The Royal Institution of Chartered Surveyors has issued its response to a third Labour term in government.
The government should pay back costs incurred by firms short-listed for PFI contracts, according to a recent report by the Royal Institution of Chartered Surveyors.
The all-party Commons transport committee today claimed the London Tube PPP was costly and had failed to bring any real improvements to the service.
Consultation on draft regulations to reform TUPE legislation has been opened by the Department of Trade & Industry and will run for 12 weeks.
Partnerships UK has launched the first phase of a new database that brings together statistical, operational and financial data of over 600 PFI projects.
Peterborough City Council will negotiate with three consortia in order to find the best deal for a ¬£64m schools' PFI contract.
The National Audit Office has cautioned local authorities to undertake further analysis when refinancing PFI deals that lead to increased private sector debt and higher public sector termination liabilities.
The Ministry of Defense, with one of the largest PFI agendas in the government, has established a new Private Finance Unit to oversee all its PFI programmes.
Alfred McAlpine has sold its shareholding in Mercia Healthcare to the Secondary Market Infrastructure Fund for £5.6m.
Kier and Interserve have sold their equity stakes in the Neath Port Talbot Hospital PFI concession, both reaping substantial profits.
The Major Contractors Group has called on the government to take action on the delay which, it says, is increasingly plaguing PFI schemes.
In what the Transport and General Workers' Union hails as a 'historic' decision, the government has agreed to end discrepancies in employment terms that can arise in PFI contracts.
Amidst weekend reports of proposed budget cuts and job losses, it has emerged that the Ministry of Defence recently bought more than 3000 Aeron chairs for its London offices.
The answer is yes, where facilities management is tacked on to the bid as a 'make weight' without adequate funds to cover real costs.
The private finance initiative in the NHS must be reformed if we are to realise its full benefits for patients, according to a new NHS Confederation report.
A new National Audit Office report notes that there was 'limited assurance' that the price of the three Tube PPPs was reasonable, as well as 'some uncertainty' about the eventual price.
Scotland's commitment to PPP contracts means it will pay at least £25bn to private consortia over the next 25 to 30 years, according to a study by the Sunday Herald newspaper.
The contract is to design, build, operate and maintain two secondary schools in Bexley, in South East London. Keir Support Services will take on the 25-year FM role, according to a Skanska spokesperson this morning.
Mowlem and Innisfree have signed a £315m, 30-year contract with Devon County Council to build and service six new schools in Exeter under the Private Finance Initiative.
Construction industry think-tank Be has highlighted the team selection process for Private Finance Initiative projects as a particularly weak point of the process.
This spring the French government is due to pass an order authorising government departments and local authorities to enter into 30 year contracts with the private sector to finance capital projects and outsource public services.
The RMPA consortium has finally reached financial close on the project to redevelop Colchester Garrison. The announcement was swiftly followed by news that the consortium has sold 200 acres of former MOD land to Taylor Woodrow for housing development.
ISS Mediclean has reached financial close on its role in the £35m PFI scheme to redevelop Newham General Hospital in east London.
A consortium comprising WS Atkins, Sir Robert McAlpine and Sodexho will close a 35-year deal to redevelop and manage Colchester Garrison within the next week. They have been in discussions since 1997.
Equion the PFI vehicle for John Laing has announced that it has signed a the a £35m redevelopment deal for Newham General Hospital in East London.
Jarvis shares fell by 24% yesterday as analysts pointed to new troubles. Issuing a statement, the company said it will suffer a ¬£12m hit in this financial year as a result: the City was not impressed and wiped another 11% from shares this morning.
Sodexho has announced financial close on the ¬£283m new Romford Hospital project. The company will provide the soft and hard facilities management services for the new 859-bed acute hospital for Barking, Havering and Redbridge Hospitals NHS Trust.
The UK Government is expected to announce today that a team led by Franco-German defence group EADS and including Cobham and Rolls-Royce as well as French company Thales has been awarded the ¬£13bn Future Strategic Tanker Aircraft (FSTA) programme.
Balfour Beatty picked up its fifth hospital concession as its PPP healthcare vehicle, Consort Healthcare, was appointed preferred bidder for the ¬£521m Birmingham Acute and Adult Psychiatric Hospitals PPP.
A disputed NHS Estates PPP deal has been given the OK following an extensive investigation by the National Audit Office.
Baker FM says its consultancy work in PPP is developing in the health and education sectors as it is appointed for a range of benchmarking and service review commissions.
A consortium, led by Equion, which includes Sodexho as the FM provider, has been appointed preferred bidder for a new £350m hospital PFI in North Staffordshire.
Leeds City Council has selected the QED consortium as preferred bidder for a PFI contract that will see ten new primary schools built. Detailed negotiations are underway, with work expected to start onsite by the summer.
Information Resources, a Kier-led consortium, has been named preferred bidder for a library and lifelong learning centre in Oldham under the private finance initiative. The project is valued at £80m over 25 years.
The Driver and Vehicle Licensing Agency (DVLA) has invited firms to tender for a £150m project to refurbish or replace a number of office buildings throughout the UK.
The troubled East Lothian PPP - now to be taken forward by Balfour Beatty after the collapse of Ballast - has 'exposed the myth of risk transfer in PPP schemes', the union Unison said today, relaunching its anti-PPP campaign.
Bradford Metropolitan District Council faces the prospect of strike action in the New Year over plans to transfer staff to the private sector as part of a £100m IT outsourcing deal.
The Carillion/Royal Bank of Scotland joint venture has reached financial close on the new John Radcliffe Hospital in Oxford as another investor enters the market for PFI equity stakes.
A partnership between Amey and Lex Defence Ltd has been selected as preferred bidder for the Ministry of Defence C Vehicle Capability Private Finance Initiative programme, worth more than ¬£500m over 15 years.
Laing has been invited to take a stake in the giant, Skanska-awarded PFI at Barts, London. John Laing and Sodexho are also preferred bidders for another healthcare PFI in Staffordshire.
Construction contractors have gone under, PFI work has been put on hold and unsecured creditors are unlikely to get a penny, say sources, as the administrators call a meeting to discuss the future of Ballast and Wiltshier FM.
The Skanska Innisfree consortium has been appointed preferred bidder for the UK's largest privately financed hospital. The scheme to redevelop St. Bartholomew's Hospital (Barts) and The Royal London Hospital has a construction value alone of ¬£1bn.
The construction and facilities management subsidiaries of French construction giant Bougyues have won a contract to design, build and provide FM for the Central Middlesex hospital in London.
Carillion is to sell its equity interest in the Darent Valley Hospital PPP concession to Barclays UK Infrastructure Fund for ¬£5.2m in cash. The construction to support firm will also receive ¬£11.2m in refinancing profits.
Robertson FM has moved into a newly constructed community campus at Ingleby Barwick, Stockton - built specifically to meet the needs of Europe's largest private housing development. It will provide FM services for the next 25 years.
The new ¬£12m community hospital at Chester-le-Street, North Durham will open its doors to patients tomorrow. It was built by Robertson Construction and many facilities services will be provided by the group's FM arm.
Jarvis has come in for criticism, this time from the BBC's File on 4 programme which claims that a ¬£55m Wirral schools PFI is behind schedule.
Support services firm Serco is part of the Paradigm consortium awarded the ¬£2.5bn Skynet 5 PFI contract to deliver secure global military satellite communications to the UK armed forces.
A consortium comprising Reliance Integrated Services, construction firm Kajima and Honeywell Controls Systems has been awarded a 30 year PFI contract to provide a fully serviced headquarters building for the Health and Safety Executive in Bootle.
Three Private Finance Initiative hospitals worth £1.4 billion have been delayed by the Government following fears that contractors cannot cope with the volume of work.
Management and unions at University Hospital Birmingham have embarked on a partnership that will allow staff representatives to help shape decision-making at the highest levels.
The Business Services Association, the policy forum for major outsourced service companies, said in a statement today that extension of the local government two-tier workforce guidance across the wider public sector was inevitable.
Having disposed of its construction and housebuilding interests John Laing's transformation into an infrastructure investment and operations group continues as the company is appointed preferred bidder for the Greater Nottingham NHS LIFT project.
Academy Services, a partnership between Kier Project Investment and Dexia Public Finance Bank, has been named preferred bidder to provide eight new schools for the London Borough of Waltham Forest under the private finance initiative.
The Major Contractors Group has called on the government to review the way groups bid for PFI - they would like a preferred bidder appointed within six months and just two consortia or companies on the shortlist.
Last week senior Treasury officials were unable to explain to a Commons select committee why their departmental spending had gone up by £27m. The mystery has been solved - it's the cost of their new offices.
Responding to the Chancellor's speech to the TUC promising dialogue on two tier workforces, the BSA says the private sector needs to be included.
As the Private Finance Initiative moves into its second decade, funding will be more difficult to find. The result will be a shift to a new focus on a secondary market in PFI investments.
Support services group Interserve and its consortium partner O'Hare & McGovern have reached financial close on a dual PFI agreement to design, build and operate two colleges of further education in County Tyrone, Northern Ireland.
Construction companies working on PFI schemes expect to make between three and ten times as much money as they do on traditional contracts - but it's justified, they say, because there are higher risks involved.
A year after it was appointed preferred bidder, Skanska has signed the final contract for South Derby Acute Hospitals valued at ¬£459m including 35 years of FM.
Construction to services group Alfred McAlpine has been appointed preferred bidder by the Addenbrooke's NHS Trust for a ¬£170m PFI scheme.
Interserve Project Services has negotiated a ¬£45m design and build contract at the same time expanding its FM role for IR and DWP in Newcastle.
The contractual aspects of two PFI schemes have been agreed: a group of schools in Calderdale which will be managed by Rentokil Initial Management Services and a new ¬£16m hospital in Darlington. Both are being built by Balfour Beatty.
Business and construction services group Carillion has been appointed preferred bidder for the new Queen Alexandra Public Private Partnership project.
A consortium led by Mowlem has secured the prestigious Allenby/Connaught Ministry of Defence PPP/PFI project.
A National Audit Office review of the state of the PFI deal that will deliver a new headquarters for GCHQ has found that technology costs were under-estimated by a factor of ten.
Faced with growing criticism over the use of the Private Finance Initiative from, the trades unions, its own backbenchers and some professional groups, the Government has sought to redefine its approach in a new policy document.
Balfour Beatty, announced today that Consort Healthcare (Balfour Beatty Capital Projects Ltd and HSBC) has reached financial close on the contract for a PFI hospital in Blackburn.
The Scottish Executive is committed to using PPP as part of its modernisation programme to help build a better Scotland, finance and public services minister Andy Kerr said yesterday.
Over 300 Government officials have attended a major stock-take on PFI and PPP at the National Audit Office's second annual conference where a new e-centre was launched.
Devon County Council has chosen construction and support services group Mowlem as preferred bidder for its Exeter schools Private Finance Initiative scheme.
Transform Schools (Rotherham) Ltd, a concession joint venture between Balfour Beatty plc and Innisfree, has reached financial close for its ¬£100 million PFI schools project for the Metropolitan Borough of Rotherham.
Architects have their doubts about the private finance initiative but at a conference this week they acknowledged that it has brought facilities management to the fore, which can only be good for design.
Catalyst Healthcare has been selected as preferred bidder for the fifth phase of Burnley General Hospital PFI in Lancashire.
Private finance initiative schemes damage hospital services and lead to a reduction in beds, argues new research carried out in Edinburgh.
A consortium including construction firm Laing O'Rourke and the UK arm of German company M+W Zander has been appointed preferred bidder for a ¬£200m PFI scheme to redevelop two Newcastle hospitals.
International law firm DLA has been appointed Leeds City Council's legal adviser for PFI projects. The appointment is the first to be made under the Council's new arrangements for partnering with external advisers to deliver PFI projects.
The Metronet consortium has reached financial close on the Public Private Partnership to run the infrastructure companies responsible for over two thirds of the London Underground network.
Unison, the public services union, has published a report on the experiences of frontline staff in PFI-funded hospitals. This reveals a series of shortcomings, say the authors. But a service providers' group says the research is flawed and unhelpful.
Following a critical report published in February, the government has announced new plans for investment in school buildings, a programme that will see £3.2bn spent over the next three years.
Jarvis has reached financial close on a contract to design, build and operate three special educational needs high schools for Salford City Council.
At Amey's Extraordinary General Meeting held today, shareholders approved the disposal of the company's PFI portfolio to Laing Investments.
The Audit Commission has looked at investment in preventive maintenance and improvement for school buildings and found 'systemic problems' that limit the success of asset management strategies.
A consortium including support services company Interserve has closed its second prison PFI contract.
The Health and Safety Executive has appointed the Kajima Consortium as the preferred bidder for a PFI contract to build and operate a new headquarters in Bootle, Merseyside.
Skanska's contract to fund, design, build and partly maintain a new hospital in Coventry was named ‚ÄúDeal of the Year‚Äù today - most significantly because it is the first to use the Retention of Employment model for soft services FM staff.
Most construction under the Private Finance Initiative is being delivered on time and at the planned cost, according to the National Audit Office but it is impossible to say if this performance could have been achieved with other procurement routes.
The legal and regulatory framework in Europe for PPPs is maturing, says the London-based International Project Finance Association, and that will lead to a growth in spending over the next two years.
The Minerva Education & Training consortium, which includes support services provider Interserve, has been named preferred bidder for the £250m Defence Sixth Form College public private partnership.
A new survey has named Ernst & Young as the top PFI advisers in 2003 closing 18 deals including the Manchester Police project won recently by Laing and Equion FM. PricewaterhouseCoopers came in second.
Amey, Amec, Balfour Beatty, Jarvis and Laing are paying interest on £2 billion of debt amassed by Special Purpose Vehicles, analysts have calculated. The news came as Amey admitted 250 of its staff are under notice.
Support services group Mouchel has emerged as a key advisor on three Court Services projects, valued at over £70m and amongst the first PFI schemes launched by the Lord Chancellor's Department.
Amey has issued a statement following up on yesterday's announcement of the conditional sale of PFI projects to Laing. The deal, the company says, will underpin its strategy of being a leading PFI player.
Consortia led by Bovis Lend Lease and Balfour Beatty have emerged as the final bidders for Birmingham's ¬£305m New Hospitals Project to replace three existing hospitals.
International construction services group Bilfinger Berger has been appointed preferred bidder for the provision of two new school facilities in Bedfordshire.
An Audit Commission investigation into schools funded under the Private Finance Initiative has revealed a series of shortcomings. Lessons need to be learned by all parties if the promised benefits are to be achieved, says the report.
Government plans to put an end to accusations that PFI projects lead to a 'two-tier' workforce suffered a setback when a major public sector union launched an attack on the process.
A Ballast-led consortium has commenced a major PPP/PFI education and community facilities project for East Lothian council worth ¬£43m in design and build and ¬£92.5m in FM over 32 years.
Jarvis has achieved financial close on a deal to provide England's first ever purpose designed and built PFI Ambulatory Care Centre (ACC) under the Private Finance Initiative (PFI), for Sandwell and West Birmingham Hospitals NHS Trust.
Tender notices for the first 'batched' projects under the Government's Local Improvement Finance Trust, or LIFT, healthcare initiative have been published. The six schemes have a total capital value of almost £146m.
North Middlesex University Hospital NHS Trust is gearing up to launch an £80m PFI project. Included will be a new hospital on the existing site, with a 30-year contract for facilities management and maintenance.
Having signed 530 PPP contracts, worth ¬£24bn, the expertise of UK firms is crucial to the budding international market for public private partnerships, according to a new report from International Financial Services, London.
Redcar & Cleveland Council has confirmed that business process outsourcing specialist Liberata is its preferred bidder for a ¬£230m ten-year strategic partnership.
Kier and its partner Innisfree, acting as Prospect Healthcare, have been named preferred bidders for a new £22m diagnosis and treatment centre for Hinchingbrooke Health Care NHS Trust.
Facilities management and infrastructure services group Jarvis, has been appointed preferred bidder by Salford City Council to design, build and operate three special educational needs schools.
The Commission for Architecture and the Built Environment is set to go hands-on with NHS Estates in a joint effort aimed at providing practical assistance to clients who are developing five hospitals around the country.
After announcing its intention to buy Amey's PFI equity stakes, John Laing subsidiary, Equion, has been awarded a PFI contract to build and operate 16 police stations and a new traffic HQ for the Greater Manchester Police Authority.
The new Great Western Hospital in Swindon opened its doors this week with Carillion providing a wide range of property and facilities services.
Financing has closed for one of the UK's largest privately financed hospitals - Skanska's largest UK hospital project to date.
A detailed survey of PFI project sponsors, funders and advisors has found that almost all expect a decline in the numbers of private companies bidding for future work.
The Commission for Architecture and the Built Environment has set out the crucial design issues that Health Care Trusts must address if they are to achieve better quality health care environments that are properly patient-focused.
Andrew Sutton, chief executive of Jarvis Accommodation Services, countered accusations of poor workmanship, late delivery and inadequate communication on school PPP projects in the BBC's investigative programme File on Four last night.
Turner & Townsend Group played host to a group of Dutch government and council officials, who visited the UK to find out more about light rail concepts and public finance initiatives.
Scottish MPs have agreed a new protocol that will protect workers rights in future public private partnership deals. It will not, however, be back-dated to cover existing schemes.
Over 60% of PFI contracts let so far did not include arrangements to share gains from refinancing. In a report released last night the National Audit Office said that government departments would need to manage these deals more effectively.
Jarvis has entered into an agreement with a team of education and commercial professionals to develop a new education support services business.
The Department of Health has advertised for financial consultants and legal advisors to help shape the tender process for the first batched hospital PFI initiatives.
88% of hospital PFI schemes have been delivered to programme according to a new Ernst & Young survey. However, the sheer volume of schemes coming to market should be raising concerns.
Recently, Carillion reported pre-tax losses of £1.153m for the first half of 2017. It is the latest chapter in the sometimes tumultuous history of one of the FM market's most active businesses.
John Pilkington, managing director of Amey Ventures, looks at the connection between modernisation of facilities and the modernisation of practices.
Tim Grier offers an expert view on PFI (the Private Finance Initiative) and PPP (Public Private Partnerships) as routes to investing in, building and managing public sector projects.
Ed Baldwin from Journal of Facilities Management
PFI is here to stay as a method of funding new hospitals. That brings opportunities for FM companies with a long-term view. But in the meantime, writes Elliott Chase, problems are still being identified and confronted.
Concerns expressed in the press about PFI/PPP deals have had a negative impact on the FM companies involved. Nicki Thomson examines the scheme's origins and the current debate about its future.